Put the resources in place to prepare patients for their financial obligations.
Cynthia Ethier, Senior Consultant, Revenue Cycle Transformation, Hayes Management Consulting: Due to the ACA, many patients have had a change in insurance plans. It's likely the new benefits are different than what they have been accustomed to in the past.
One major impact has been the shift of responsibility to the front desk staff to understand the patient's benefits and educate the patient. Have a conversation by phone prior to the patient's appointment to educate the patient on their financial responsibility for the appointment. This proactive call not only eliminates any surprises, it can help the patient plan. For example, if the patient has a high deductible health plan, you can help arrange for financial counseling so that any needed arrangements can be conducted prior to the appointment.
It's also a good idea to provide signage in the office and verbiage on patient statements to communicate the expected payment policy to patients. Many healthcare organizations offer online payment options to expedite patient payments.
Educating patients on expected costs can improve cash flow, decrease accounts receivable and make for a happier patient.
If you would like to share your RCM best practices, please email Carrie Pallardy at cpallardy@beckershealthcare.com to be featured in the "RCM tip of the day" series.